(News Bulletin 247) – Wedbush keeps its Outperformance rating on the Paypal stock and its price target at $100.
“We believe that the launch of new products in the merchant ecosystem will accelerate ongoing monetization initiatives, while providing additional scale,” notes the analyst.
For the broker, internal expectations (mid-single-digit revenue growth for CY23) remain ‘conservative relative to recent buying volume and e-commerce metrics’.
Additionally, adds Wedbush, management is committed (beyond CY23) to a business model ‘that generates consistent margin expansion opportunities’.
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